When it comes to doing business, New Jersey is globally connected. The State is home to 21 Fortune 500 companies, more than 1,100 multi-national companies and 270 foreign companies’ headquarters.
To say that New Jersey is a multicultural melting pot that welcomes international investment and entrepreneurs is an understatement. The State is ranked as one of the most diverse in the country. New Jersey is #6 in the U.S. for globalization and the 4th state for incoming foreign direct investment, according to The Information Technology and Innovation Foundation’s 2017 New Economy Index report.
New Jersey has five Foreign Trade Zones and a world-class logistics and distribution infrastructure that offers unsurpassed access to national and international markets. With 2,800 miles of Interstates and highways, the nation’s highest railroad density, the 15th busiest airport in the U.S. and largest seaport on the East Coast, New Jersey offers easy access to almost anywhere in the world.
Foreign Trade Zones (FTZs) are secure geographical areas located within or near United States ports that are treated by U.S. Customs as if they were located outside national borders. This can be very helpful to companies because it gives them the ability to keep costs down by deferring payment of duties until goods leave an FTZ.
New Jersey has five Foreign Trade Zones (FTZs) strategically located throughout the state.
FTZ #44 Mt. Olive, Morris County
FTZ #49 Port Newark/Elizabeth Marine Terminal
FTZ #142 Port of Salem, Salem County; Millville Airport, Cumberland County
FTZ #200 Mercer County Airport (Trenton)
FTZ # 235 Lakewood Township, Ocean County
FTZ #49 at the Port Newark/Elizabeth Marine Terminal is one of the largest contiguous Foreign Trade Zones in the United States. Situated on 2,075 acres, FTZ #49 sponsors nine active Foreign Trade subzone operators that are involved with: manufacturing; pharmaceuticals; petroleum products; specialty chemicals; fragrances; and, other importers/distributors.
New Jersey gives business travelers, and companies that need to move cargo unparalleled access to destinations and connections almost anywhere in the world, by air.
Travelers in the State have access to daily non-stop flights to 110 U.S. cities and 130 international destinations via Newark Liberty International Airport and other nearby airports.
The combined airports in the New Jersey/New York metropolitan area create the largest airport system in the United States, the second largest in the world in terms of passenger traffic, and largest in the world in terms of total flight operations.
Newark Liberty is a major hub for travelers, as well as for express carriers like FedEx Express, which occupies three buildings on 2 million square feet of airport property. The airport’s strategic location, adjacent to Port Newark/Elizabeth and Foreign Trade Zone #49, gives companies the ability to access fast and efficient air-sea connections.
More than 30 airlines operate flights out of Newark Liberty, including United Airlines, the airport’s primary carrier. Spirit Airlines offers flights to U.S. destinations and Air Canada offers flights to Toronto from Atlantic City International Airport. Frontier Airlines offers non-stop domestic flights daily from Trenton Mercer Airport. Plus, another 43 public-use airports also are located in New Jersey.
So, whether your business takes you or your products places across the country or around the world, you’ll want your company in New Jersey.
New Jersey is home to the Port of New York and New Jersey, the 3rd busiest seaport in North America and the largest maritime cargo center on the East Coast, offering quick and easy transport of goods to national and international markets.
The Port Authority of New York and New Jersey manages the deep water ports of Newark, Elizabeth and Bayonne. Combined with the Authority’s regional air cargo network, they serve as a North American gateway for international freight as well as a leading hub for domestic cargo.
The Port handles every type of cargo imaginable, including: containers; roll-on/roll-off automobiles (Ro-Ro); liquid and dry bulk; breakbulk; and, specialized project cargo. Fifty-four container cranes stand ready to handle those and all other types of cargo. Three port companies supply floating derricks, including the largest on the East Coast.
The Port also hosts freight forwarders, brokers, financial firms, specialized export packers and other services. They move cargo efficiently and quickly from the Port to their next destinations by road or rail, including the ExpressRail system, which provides direct ocean-to-rail intermodal capabilities with on-dock rail lines.
In 2016, huge vessels known as neo-Panamax ships began traversing the widened and deepened Panama Canal. To ensure New Jersey’s ports can accommodate these super-containerships, major capital projects have been underway at our ports to ensure they are ready for future trade activity.
For example, the Port Authority of New York and New Jersey embarked on a $1.3 billion project to raise the clearance of the Bayonne Bridge at Port Newark/Elizabeth. The project, which began in 2013, pushed the bridge’s clearance up to 215 feet to accommodate the larger neo-Panamax ships coming from Asia to the East Coast through the expanded Panama Canal. As of June 2017, ultra-large containerships carrying up to 18,000 tonnage equivalency units (TEUs) have been authorized to navigate beneath the bridge.
In South Jersey, a new state-of-the-art marine terminal opened at the Paulsboro Marine Terminal on the Delaware River. The 190-acre facility was the first new marine terminal to be constructed on the Delaware River in over 30 years, significantly increasing shipping capacity.
If you’re interested in connecting to the world by sea, New Jersey’s ports are the place to be.
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